Forget Parabolic: Silver Is Now Asymptotic, Hits $29

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Tue, 11/09/2010 - 13:23 | 712151 Cookie
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You aint see nothing yet

Tue, 11/09/2010 - 13:47 | 712254 Pedro
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Tue, 11/09/2010 - 13:51 | 712274 hedgeless_horseman
hedgeless_horseman's picture

This is 100% real post-fan shit flying through the air, folks.

Tue, 11/09/2010 - 13:59 | 712321 uberfinch
uberfinch's picture

Awful lot of put activity in SLV, SLW at the moment.

Tue, 11/09/2010 - 14:10 | 712379 flacon
flacon's picture

If I had any cash left I'd be buying. 

Tue, 11/09/2010 - 14:22 | 712444 DoChenRollingBearing
DoChenRollingBearing's picture

flacon, when you get some cash, go and buy right away!  Don't let a "high" price deter you.

Tue, 11/09/2010 - 14:22 | 712449 uberfinch
uberfinch's picture

Hard to tell from his comment whether he'd be buying puts or longs

Tue, 11/09/2010 - 14:08 | 712364 beanieville
beanieville's picture

Forget tulipmanic silver.  RAX is the next "Mother Of All Short Squeezes":

Tue, 11/09/2010 - 14:47 | 712609 The Rock
The Rock's picture

If SLV is asymptotic, what does that make PCLN?

Tue, 11/09/2010 - 13:25 | 712155 Rogerwilco
Rogerwilco's picture

What, pencils don't balance on their points?

Tue, 11/09/2010 - 13:25 | 712156 truont
truont's picture

Blythe Masters already terminally precarious tenure at JPM just got shortened by a few months.

Hey Blythe, "Don't panic." Nobody is going to get screwed, right?

Tue, 11/09/2010 - 13:30 | 712178 lizzy36
lizzy36's picture

Well, if it is jamie doing the screwing, it won't be all bad.

Tue, 11/09/2010 - 13:40 | 712223 Cognitive Dissonance
Cognitive Dissonance's picture

I just love this quote. I wonder how she feels now?

Tue, 11/09/2010 - 13:44 | 712239 downrodeo
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i think she was referring to herself; for that, we can breath a heavy sigh of relief...

Tue, 11/09/2010 - 13:54 | 712292 Mr Lennon Hendrix
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I can bet Turd has something to say about this.

Tue, 11/09/2010 - 14:10 | 712370 flacon
flacon's picture

Blythe eats her babies as they are being born. 

Tue, 11/09/2010 - 13:25 | 712157 americanspirit
americanspirit's picture

These are simply $1-$2 buttons popping. The seam hasn't ripped loose yet.

Tue, 11/09/2010 - 13:50 | 712270 bingaling
bingaling's picture

Agreed. This is only the beginning of the unwind wait until silver breaks the all time high when delivery can't be made .

Tue, 11/09/2010 - 13:25 | 712158 TooBearish
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Look for JPM to issue 2.5Billion 50yr bond to pay for the margin call

Tue, 11/09/2010 - 18:27 | 713880 Geoff-UK
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With Ben Bernake as a co-signer.


JPM SHOULD be the short of the decade.  But Uncle Sammy will come through for Jamie--with OUR tax dollars.

Tue, 11/09/2010 - 13:26 | 712163 uno
uno's picture

wonder what the BIS is up to.

Tue, 11/09/2010 - 13:41 | 712164 John McCloy
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This Jimmy Buffet Favorite comes to mind as Chopper prepares to monetize the world:

No time to count what I'm worth
Hey I just left the planet earth
But a' where I go I hope there's rum
Not to worry, more soon come

I don't know
I don't know
I don't know where I'm a gonna go
When the volcano blow

Tue, 11/09/2010 - 13:26 | 712165 Bearster
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You don't mean "asymptotic", you mean "vertical".

Tue, 11/09/2010 - 13:27 | 712166 ghostfaceinvestah
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I would like to sincerely thank the ZH website and all its commentors for giving me the conviction to stick to my commodity and PM positions, and thereby preserve my wealth against Bernanke's evil printing press.

God help my fellow Americans who aren't protected, their life is going to get really ugly, really fast.

Tue, 11/09/2010 - 13:29 | 712177 JonNadler
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you're welcome

Tue, 11/09/2010 - 14:25 | 712365 DoChenRollingBearing
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Sr. Nadler,

Please see below comment under Shameful.

Gold to $200.

Tue, 11/09/2010 - 14:28 | 712476 DoChenRollingBearing
DoChenRollingBearing's picture

Palladium up $24 to $732 / oz.


Just stole a new JPM email:

Palladium to $40.

Platinum to $100.

Gold to $50.

Silver to $1


Tue, 11/09/2010 - 14:51 | 712635 johnnynaps
johnnynaps's picture

And......silver just dropped $1.40 in the last half/hr. after surging all morning. Manipulation? Nah, just the market setting a price!

Tue, 11/09/2010 - 15:04 | 712733 DoChenRollingBearing
DoChenRollingBearing's picture

Just saw that big spike down in both Au and Ag (2:03 ET).  Bring it down putaz, I will buy more!

Tue, 11/09/2010 - 15:17 | 712801 DoChenRollingBearing
DoChenRollingBearing's picture

I feel like a HFT going back and forth:,,,

Tue, 11/09/2010 - 13:37 | 712214 Janice
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I would also like to thank King World News, GATA, Jim Rickards, Ed Steer, Hugh Hendry, and my all time favorite!!!!!!!  Marc Faber !!!!

I'm proud (and richer) to be a Marc Faber groupie! 

Tue, 11/09/2010 - 14:38 | 712542 Henry Chinaski
Henry Chinaski's picture

... +30?

Thanks ZH for providing encouragement to hang in there with my tinfoil hat investment program.  Abandoning conventional wisdom has not been an easy journey.

Buying the dips is soooo 2009.  Gave up that strategy when ZH declared the start of the currency wars several weeks ago.  Yesterday  I finally went all in on SLV and GLD with the last of my 401k that was in cash. I have been buying physical, and SLV and GLD in the 401k, all along for the past couple of years, and dollar cost averaging in quality firearms.  Not ready to pull the trigger on the survival pallet yet.

(I know SLV and GLD are frowned upon here, but I'm not taking penalties on the 401k, and physical in a 401k vault somewhere isn't posession.)



Tue, 11/09/2010 - 18:03 | 713770 Double.Eagle.Gold
Double.Eagle.Gold's picture

Buying SLV and GLD you are actually working AGAINST yourself if you want the base metals to do well. Both of these funds are paper based. These are paper derivative based financial assets, they are NOT hard, gold backed assets. Don't be deceived by the Street on this.

There are good alternatives for your 401K, funds that actually buy the base metals. Take a look at: PHYS, GTU. Jesse's Cafe blog covers these, here. Pay attention to the NAV premium.

The other good play is via the miners, for which GDX is a good proxy.

And there is one last great alternative for those with 401K's, incorporate. Your 401K can follow you to new employers 401K plans. This is the law. Some people make use of this to buy franchises, incorporating and then rolling your 401K into the new structure where you buy stock of the company you form to capitalize the business. You start any type of company, leaves your options pretty wide open. The one gating criteria for rolling your 401K, you have to become an employee of the corporation. How long you have to stay an employee is unclear. Using this mechanism, you can go all physical with your 401K.


Trust Matters

Tue, 11/09/2010 - 18:30 | 713894 Geoff-UK
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Pay the penalties and stop playing their game.  You think you're out of the casino, but you're still playing with US Dollar chips.


Shut down your 401-K now while it's still worth something, and take physical.

Tue, 11/09/2010 - 20:40 | 714400 FreedomGuy
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Good luck, Henry. I cashed in one 401k on the same idea, plus I heard of a potential plan to nationalize all 401k's. So, I am halfway there with you.

Tue, 11/09/2010 - 13:45 | 712241 B9K9
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Again, I ask, how does dollar destruction support our mission critical objectives in the ME? Without reserve status, we cannot maintain (military) control of essential natural resources ie petroleum.

You guys who seem to think that this is all just a lot of financial fun & games apparently have no idea what's at stake regarding geo-political strategic imperatives.

Perhaps it would be wise to review this clause:

Things are finally beginning to get, shall we say, interesting. If you think that the $USD is going to be sacrificed for short-term gain without some major countervailing action, then all I can say is "good luck with that".

Tue, 11/09/2010 - 13:48 | 712258 Shameful
Shameful's picture

Have you considered the oligarchs are changing horses? It's not like money men have not left decaying empires to find new ones. If that is the case then their goal would be one last great pillage of the US and then settle into their new empire. Looks to me like the US is going to be the global "Bad Bank".

Tue, 11/09/2010 - 14:07 | 712362 DoChenRollingBearing
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You may want to consider joining our now informal G.O.O.D. discussion group.  Members kind of include DosZap, JonNadler and the ever humble Bearing.  Candidate hidey-holes include Peru and Argentina.

Tue, 11/09/2010 - 14:41 | 712561 Shameful
Shameful's picture

I must have missed it :) I haven't done enough research into Peru but isn't Argentina a little high on the crime side. Seems Uruguay would be a better alternative (their president is worrisome though), and then there is Chile.

Tue, 11/09/2010 - 14:47 | 712605 JonNadler
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hey if Argentina took the Nazis they can take me too! 

Tue, 11/09/2010 - 15:09 | 712763 DoChenRollingBearing
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I'm telling you guys, JonNadler has a great sense of humor!

Although your JPM team just did a GREAT gob erasing PM gains just in the last 30 mins.  Do you have new ZH-er Obama2012 on your trading team?


But, I too have read that Uruguay is another good candidate, lots of space, pretty good climate, etc.  

Uruguay has another plus: the one afternoon we went there (day trip from B.A., Arg) my brother and I ordered beer with lunch.  It came in a huge bottle.  Little country but their brewer thinks big!

Tue, 11/09/2010 - 13:56 | 712310 Walter_Sobchak
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It doesn't, and rest assured, if Petraeus were in charge of the fed, he wouldn't be destroying the dollar.  But he's not so wake up, FED don't work for "Amerika", they work for the bankers.  Sry, but the Romans thought their military was going to save them too.

Tue, 11/09/2010 - 14:24 | 712456 Johnny Dangereaux
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Hopefully after the US Military is out of money, we will see the true cost of petrol and let the economics take over, and we'll have plenty of energy innovation. You don't need gasoline to sit at home and watch Idol you know. "Geo-political imperatives" for whom? Byrzyzinski and the rule-the-world crowd? Eliminating the CFR would be a good start.  Reset bitchez!

Tue, 11/09/2010 - 15:08 | 712757 Pants McPants
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A military is not needed when transactions are conducted peacefully.  The US could trade for oil....but that would mean we'd have to produce something worth trading I see the dilemma.  :)

Tue, 11/09/2010 - 15:23 | 712833 ThreeTrees
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WTF are you talking about man?  The US military wouldn't be sustainable if they stopped printing money.  How are they supposed to provision an army when the private industry that creates the capital from which the State takes a vig implodes via deflation?  Zero productive enterprise and zero tax revenue means the very last pretense legitimizing US Treasury debt as a sound investment goes out the window.

The current situation is a tightrope walk that will end at the slightest breeze.  "They" are balancing on the end of a pin.  For all "their" supposed control, somehow, things just keep getting worse.

Tue, 11/09/2010 - 13:45 | 712248 Trifecta Man
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Hang on.

Tue, 11/09/2010 - 13:50 | 712268 Ninja Report
Ninja Report's picture

Amen.  Last night I went to bed thinking "screw the dips, I'll pick up another 100oz physical silver tomorrow regardless."  I woke up to find it had jumped over 28, but stuck with the plan anyway.  Already, I am happy with the decision.

So many times, I have heard people say "oh, I will wait until things fall apart before buying gold/silver" only to reply that it will happen too fast and they will get left empty handed.  Well, now it is happening, and it is happening fast.  Grab what you can while you can.

+1 on King World News.

Tue, 11/09/2010 - 14:25 | 712461 XitSam
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Agreed, but I really expected some other effect in parallel with PM increase like say gas/food shortages.

Tue, 11/09/2010 - 13:27 | 712167 digalert
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A Bernanke confidence vote?

Tue, 11/09/2010 - 13:27 | 712169 LoneStarHog
LoneStarHog's picture the beginning of August she said that EVERYONE IS SCARED SHITLESS OF US.

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